2-Day GST Council Meet In Jaisalmer Likely To Lower Insurance Premium Rates

The upcoming GST Council meeting in Jaisalmer is set to address a pivotal agenda: the potential waiver of the 18% GST levied on health and life insurance premiums. This decision could significantly benefit policyholders by reducing costs and encouraging wider adoption of insurance. Stakeholders and industry leaders have long advocated for this tax relief, emphasizing its role in making essential financial protection more affordable. The proposal aligns with the broader goal of fostering financial inclusion and boosting insurance penetration. Discussions may also consider allowing full input tax credit for insurers, ensuring that benefits directly reach consumers.